Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in CBRE Group, Inc. (NYSE:CBRE)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,525 shares of the financial services provider’s stock after purchasing an additional 6,415 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CBRE Group were worth $8,334,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CBRE. Cetera Investment Advisers lifted its position in shares of CBRE Group by 500.1% in the first quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock valued at $2,718,000 after acquiring an additional 23,290 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of CBRE Group in the fourth quarter worth $844,000. Natixis lifted its stake in CBRE Group by 69.0% in the first quarter. Natixis now owns 55,018 shares of the financial services provider’s stock worth $5,350,000 after acquiring an additional 22,464 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of CBRE Group in the 1st quarter valued at about $1,118,000. Finally, Nordea Investment Management AB lifted its position in CBRE Group by 1,730.4% in the first quarter. Nordea Investment Management AB now owns 394,418 shares of the financial services provider’s stock valued at $38,550,000 after acquiring an additional 372,870 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors.

CBRE Group Stock Performance

Shares of CBRE Group stock traded up $0.07 during midday trading on Friday, hitting $114.69. The company had a trading volume of 236,717 shares, compared to its average volume of 1,632,594. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. CBRE Group, Inc. has a 12-month low of $64.63 and a 12-month high of $118.39. The stock has a market cap of $35.19 billion, a price-to-earnings ratio of 35.71 and a beta of 1.40. The company has a fifty day simple moving average of $101.50 and a 200 day simple moving average of $94.19.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the company earned $0.82 EPS. As a group, analysts predict that CBRE Group, Inc. will post 4.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley assumed coverage on CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price target on the stock. UBS Group cut their price target on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Raymond James boosted their target price on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.29.

Insiders Place Their Bets

In related news, Director Christopher T. Jenny sold 10,847 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the completion of the transaction, the director now directly owns 51,244 shares in the company, valued at approximately $5,739,328. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Emma E. Giamartino sold 3,311 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $360,534.79. Following the completion of the transaction, the chief financial officer now directly owns 71,969 shares of the company’s stock, valued at $7,836,704.41. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Christopher T. Jenny sold 10,847 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the transaction, the director now owns 51,244 shares of the company’s stock, valued at $5,739,328. The disclosure for this sale can be found here. Insiders sold 17,232 shares of company stock worth $1,912,087 over the last three months. 0.54% of the stock is owned by insiders.

CBRE Group Profile

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.